Jupiter Asset Management Ltd. Boosts Stock Position in The Cigna Group (NYSE:CI)

Jupiter Asset Management Ltd. raised its stake in shares of The Cigna Group (NYSE:CI) by 74.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,715 shares of the health services provider’s stock after buying an additional 89,997 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.07% of The Cigna Group worth $69,656,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in The Cigna Group in the fourth quarter worth about $1,006,348,000. Vanguard Group Inc. raised its holdings in The Cigna Group by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after acquiring an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in The Cigna Group by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after acquiring an additional 867,180 shares in the last quarter. Focused Investors Fund L P bought a new position in The Cigna Group in the 1st quarter valued at approximately $205,529,000. Finally, Swedbank AB purchased a new stake in The Cigna Group during the 1st quarter valued at $161,300,000. 86.99% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Elder Granger sold 547 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at $1,812,979.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Elder Granger sold 547 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the sale, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders have sold 8,033 shares of company stock worth $2,757,740 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CI. Barclays boosted their price target on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Piper Sandler assumed coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Tuesday. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average price target of $387.00.

The Cigna Group Stock Down 0.2 %

CI stock opened at $357.44 on Thursday. The business’s 50-day moving average price is $342.53 and its 200-day moving average price is $343.92. The stock has a market cap of $101.54 billion, a P/E ratio of 29.35, a PEG ratio of 1.08 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.64.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The business had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.13 earnings per share. On average, equities research analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.57%. The Cigna Group’s dividend payout ratio is presently 45.98%.

The Cigna Group Company Profile

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.